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Private equity funds have cashed out only half the typical value of investments they usually sell in 2024, marking the third consecutive year of reduced payouts due to a lack of deals, according to a report by the Financial Times.
KKR and Bain Capital have each submitted first-round bids exceeding $5bn for the non-core assets of Japan’s Seven & i Holdings, according to a report by Reuters citing sources familiar with the matter.
TPG’s climate investment division is reportedly in negotiations to acquire Altus Power, a company that supplies solar energy to commercial property owners and residential homes, according to a report by Reuters citing sources familiar with the matter.
SK, the holding company of South Korea’s second-largest conglomerate, SK Group, plans to sell a stake worth KRW2.7tn ($1.86bn) in its specialty gas manufacturing subsidiary, SK Specialty, to the local private equity firm Hahn & Company, according to a report by Reuters.
MetLife Investment Management, a subsidiary of US insurer MetLife, has reached an agreement to acquire PineBridge Investments, a global asset management firm, from Pacific Century Group in a deal valued at up to $1.2bn, according to a report by Reuters.
Wingstop UK has sold a majority stake in its business to the US-based private equity firm Sixth Street, according to a report by Yahoo Finance.
Alternatives manager KKR has appointed Yoshi Takemoto as Managing Director to head the firm’s global wealth solutions platform in Japan, according to a report by FiNews.Asia.
Blackstone is expanding its private credit business by hiring two experienced credit professionals, Andie Goh and Jack Ervasti, to handle investment-grade deals. Joining from Ares Management and KKR, the new hires will focus on asset-based debt, according to a report by Bloomberg.
Major private equity firms have faced significant obstacles in selling or listing their China-based portfolio companies in 2023, with Beijing’s tightening restrictions on IPOs and a decelerating economy having left foreign investors’ capital effectively trapped, according to a report by the Financial Times.
Nordic Capital has successfully closed its latest fund, Evolution II, at its €2bn hard cap, exceeding its initial target of €1.4bn.
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